Possible EU funding boost for Rolle Centre project

The Rolle Centre project could receive a massive cash boost from the European Union.

The transformation of the former Rolle College into a community hub has hit a crucial stage – the cost of recommissioning the buildings is now an estimated £2.5million.

Rolle Exmouth Limited (REL), a not-for-profit company set up by residents, has been working to turn the former campus into a hub for education, training, community and cultural activities and business units.

Now Devon County Council bosses has stepped into lend REL their expertise to help draw up a funding bid to the European Regional Development Fund (EDRF).

The EDRF is used to ‘even up’ regional disparities in regional development across Europe by investing in business innovation and support and regeneration.

REL chairman Roy Pryke said: “This bid has to be submitted in outline by next Friday (November 30) and we will know by the end of February whether we are proceeding to the next stage.

“Our aim is by the end of February to have produced the investment case…including the outcome of our submission of expressions of interest and applications to funding bodies, which are currently active and in our pipeline.”

He pledged to hold a meeting for investors following the last share issue last spring as soon as they reached the point they would make decisions which would impact directly on shareholders.